 People are being more cautious about what they are spending |
The politician responsible for Jersey's economic matters says it is important living costs do not fall too quickly. Reacting to the latest inflation figure of 3.7%, Deputy Gerald Voisin said it showed efforts to cut States spending were helping towards a target of 2.5%.
But Deputy Voisin said it was important the target was not reached quickly or it would suggest the economy was struggling and falling into recession.
The figures showed inflation dropped in the past quarter by 0.3% to 3.7%.
Deputy Voisin said the latest fall showed people were being more cautious about what they were spending, which was helping bring inflation down.
This year the cost of island homes has gone up by 6.1 % making it the largest contributor to the Retail Price Index.
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